Financiera Independencia S.A.B. de C.V.’s $250 Million Notes Offering


Paul Hastings and Ritch, Mueller, Heather y Nicolau advised on the transaction

Financiera Independencia, S.A.B. de C.V., a leading Mexican consumer lender, finalized the offering of senior unsecured notes

The offering involved the issuance of $250 million of 8.0% Senior Notes due 2024 pursuant to Rule 144A and Regulation S.

The initial purchasers involved were Barclays, HSBC, BCP Securities and Actinver.

The proceeds will be used to redeem Findep’s outstanding senior notes due 2019 and repay other indebtedness. Findep opted to access the international markets opportunistically ahead of elections in Mexico with the goal of extending maturities.

Paul Hastings LLP represented the initial purchasers with a team including Taisa Markus, Mike Fitzgerald (Picture), Stephanie Monroe Rohlfs and Jorge Garduno.

In Mexico, Ritch, Mueller, Heather y Nicolau advised Barclays, HSBC, BCP Securities and Actinver with Jean Paul Farah Chajín, Luis Miguel Posadas and Raúl Fernández Orendain.

Involved fees earner: Jean Paul Farah Chajín – Ritch, Mueller, Heather y Nicolau, SC; Luis Miguel Posadas Yáñez – Ritch, Mueller, Heather y Nicolau, SC; Raúl Fernandez Orendain – Ritch, Mueller, Heather y Nicolau, SC; Taisa Markus – Paul Hastings; Michael Fitzgerald – Paul Hastings; Stephanie Rohlfs – Paul Hastings;

Law Firms: Ritch, Mueller, Heather y Nicolau, SC; Paul Hastings;

Clients: Barclays Bank; HSBC; BCP Securities; Actinver Casa de Bolsa, S.A. de C.V.;

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Author: Ambrogio Visconti